Posted March 3, 2011
Labor productivity up 2.6 percent
Nonfarm business sector labor productivity increased at a 2.6 percent annual rate during the fourth quarter of 2010, the U.S. Bureau of Labor Statistics reported today.
The gain in productivity reflects a 4.0 percent increase in output and a 1.4 percent increase in hours worked.
Manufacturing sector productivity rose 5.9 percent in the fourth quarter of 2010, as output increased 4.4 percent and hours decreased 1.4 percent. Over the last four quarters, manufacturing productivity increased 4.2 percent as output increased faster than hours worked. Unit labor costs in manufacturing declined at a 2.7 percent annual rate in the fourth quarter of 2010 and decreased by 2.7 percent over the last four quarters. Annual average productivity grew 6.7 percent from 2009 to 2010.
